First Trust Advisors LP Buys 107,982 Shares of Xerox Corp (NYSE:XRX)

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First Trust Advisors LP raised its stake in Xerox Corp (NYSE:XRX) by 57.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 295,449 shares of the information technology services provider’s stock after buying an additional 107,982 shares during the period. First Trust Advisors LP’s holdings in Xerox were worth $10,893,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the company. FUKOKU MUTUAL LIFE INSURANCE Co boosted its position in Xerox by 15.2% during the 4th quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 2,275 shares of the information technology services provider’s stock valued at $84,000 after buying an additional 300 shares during the period. NuWave Investment Management LLC boosted its position in Xerox by 1,846.3% during the 4th quarter. NuWave Investment Management LLC now owns 8,525 shares of the information technology services provider’s stock valued at $314,000 after buying an additional 8,087 shares during the period. GWM Advisors LLC boosted its position in Xerox by 1.8% during the 4th quarter. GWM Advisors LLC now owns 26,667 shares of the information technology services provider’s stock valued at $983,000 after buying an additional 462 shares during the period. Todd Asset Management LLC boosted its position in Xerox by 19.9% during the 4th quarter. Todd Asset Management LLC now owns 511,984 shares of the information technology services provider’s stock valued at $18,877,000 after buying an additional 85,074 shares during the period. Finally, Segantii Capital Management Ltd bought a new position in Xerox in the 4th quarter worth $9,514,000. 85.26% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE XRX opened at $37.82 on Friday. The company has a current ratio of 1.79, a quick ratio of 1.59 and a debt-to-equity ratio of 0.58. Xerox Corp has a 12 month low of $27.25 and a 12 month high of $39.47. The firm has a market capitalization of $8.18 billion, a PE ratio of 6.42 and a beta of 1.81. The firm has a fifty day simple moving average of $36.73 and a two-hundred day simple moving average of $33.73.

Xerox (NYSE:XRX) last issued its quarterly earnings data on Tuesday, January 28th. The information technology services provider reported $1.33 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.11 by $0.22. Xerox had a net margin of 14.81% and a return on equity of 19.47%. The business had revenue of $2.44 billion during the quarter, compared to analyst estimates of $2.43 billion. During the same period in the prior year, the business earned $1.14 EPS. The company’s revenue for the quarter was down 2.2% on a year-over-year basis. On average, sell-side analysts predict that Xerox Corp will post 3.68 earnings per share for the current year.

XRX has been the subject of several research reports. Morgan Stanley decreased their price objective on shares of Xerox from $34.00 to $33.00 and set an “equal weight” rating for the company in a report on Wednesday, January 29th. Zacks Investment Research upgraded shares of Xerox from a “hold” rating to a “strong-buy” rating and set a $36.00 price objective for the company in a report on Sunday, November 3rd. ValuEngine lowered shares of Xerox from a “sell” rating to a “strong sell” rating in a report on Friday, January 3rd. Loop Capital upped their price objective on shares of Xerox to $47.00 and gave the stock a “buy” rating in a report on Monday, November 25th. Finally, JPMorgan Chase & Co. upgraded shares of Xerox from an “underweight” rating to a “neutral” rating and upped their price objective for the stock from $31.00 to $38.00 in a report on Tuesday, November 12th. One research analyst has rated the stock with a sell rating, three have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. Xerox presently has an average rating of “Hold” and an average price target of $39.20.

About Xerox

Xerox Corporation designs, develops, and sells document management systems and solutions worldwide. It offers intelligent workplace services, including managed print services; digitization services; and digital solutions, such as workflow automation, personalization and communication software, and content management.

See Also: Why does a company issue an IPO?

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Institutional Ownership by Quarter for Xerox (NYSE:XRX)

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